Video: what will the us downgrade do to the us housing market?

What does the US downgrade really mean for the housing market?

Yesterday was the first day since S&P’s downgraded the US credit rating, and the Sell First, Ask Questions Later principle was in full effect at the opening bell. Within the first few minutes the Dow was down 250 points.

The flight to a safer harbor for investors’ money continued throughout the day. The market downturn came on the heels of a brutal week for the market, capped off when the Dow lost 512 points on Thursday.

We can expect to see rates edge higher, and soon begin to dominate adjustable rate loans. “The impact on your wallet of the Standard & Poor’s downgrade of the nation’s credit rating is similar to what would happen if your own credit score declined: The cost of borrowing money is likely to go up,” the Washington Post explained in the aftermath of S&P’s decision.

Watch the full video report at TheMoveChannel.tv.